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Oct 12 - 07:55 PM

AUD/USD - 2023 Low In View As US Yields Soar After US CPI

By John Noonan  —  Oct 12 - 05:40 PM
  • AUD/USD was clobbered 1.57% lower to 0.6313 as USD broadly gained nL1N3BI2Q0

  • US yields flew higher after US CPI and weak 30-year Treasury auction nL1N3BI2W6

  • The rise in US yields weighed on risk assets and risk currencies nL1N3BI3D4

  • AUD/USD poised to test Oct 3 and the 2023 low at 0.6286

  • A break below 0.6285 targets the 2022 trend low at 0.6170

  • Focus now shifts to China with China CPI, PPI and trade numbers out today

  • If data suggests China's economy is improving, AUD/USD may get a lift

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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